AT&T (NYSE:T) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, December 19th.
According to Zacks, “Shares of AT&T have outperformed its industry over the last month. Ushering in further good news, the company recently announced a 2% dividend hike, backed by strong cash flows and business outlook. AT&T’s 5G network trials in different cities is in sync with its plan to offer 5G services from 2018. AT&T’s DIRECTV NOW reported more than 1 million subscribers, despite cord-cutting. AT&T-Verizon have teamed up with Tillman to build cell towers in the United States. AT&T’s NetBond is gearing up to offer multiple cloud connections. AT&T is exploring a strategic option to sell a major part of its Latin American pay-TV operations. However, AT&T-Time Warner had to extend their proposed deal closure deadline to Apr 22, 2018 to clear-off regulatory issues. AT&T continues to struggle in the competitive U.S. wireless market. Loss in access lines, operating expenses and union issues are other headwinds.”
A number of other research firms have also issued reports on T. Macquarie reissued a “buy” rating and set a $43.00 price target on shares of AT&T in a research report on Friday, September 1st. Jefferies Group reaffirmed a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Thursday, August 24th. Vetr lowered shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 target price for the company. in a report on Tuesday, September 26th. Standpoint Research started coverage on shares of AT&T in a report on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Citigroup boosted their price target on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.59.
Shares of AT&T (T) traded up $0.42 on Tuesday, hitting $36.90. 30,950,400 shares of the stock traded hands, compared to its average volume of 31,670,000. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $226,530.00, a P/E ratio of 17.74, a P/E/G ratio of 2.94 and a beta of 0.44. AT&T has a 1-year low of $32.55 and a 1-year high of $42.70.
AT&T (NYSE:T) last posted its earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same period last year, the business posted $0.74 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. sell-side analysts forecast that AT&T will post 2.92 EPS for the current year.
In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $104,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. New Capital Management LP increased its position in shares of AT&T by 130.9% in the third quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after buying an additional 1,500 shares in the last quarter. Financial Engines Advisors L.L.C. purchased a new position in shares of AT&T in the third quarter valued at $104,000. Macroview Investment Management LLC increased its position in shares of AT&T by 144.3% in the third quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after buying an additional 1,595 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in shares of AT&T in the first quarter valued at $109,000. Finally, Sterling Investment Advisors Ltd. increased its position in shares of AT&T by 289.1% in the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after buying an additional 2,024 shares in the last quarter. 55.76% of the stock is owned by institutional investors and hedge funds.
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AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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